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Treat yourself. As challenging times drag on, consumers are opting to spring for more premium products in their carts according to recent grocery shopping data. Sales of premium and superpremium packaged goods grew by 1.7% at retailers year over year for the 26 weeks ended October 4th, according to the study.
Big brands doing (mostly) big business. While the majority of the top 10 brands in the Interbrand 2020 brand value study declined in value, the total aggregate value of the top 100 most valuable brands grew by 9% this year. The report points out that about 43% of brands saw growth while 57% saw their value decline. Apple tops the list of most valuable brands for the eighth year in a row.
Walmart gaining ground on Amazon? Walmart has reported a significant uptick in digital sales over the past six months. Data on Prime members suggest the increase may be because the retail behemoth has won business from Amazon as the pandemic affected the primarily-online seller’s logistics.
Even Santa being replaced by technology. A Minnesota mall is replacing their in-person Santa this year. Rosedale Center will be installing an augmented reality ride that lets kids join St. Nick on a virtual mission to deliver presents.
No desire to see 2020 again. YouTube announced it will not produce its traditional “YouTube Rewind” celebratory recap video this year. The video giant says it just doesn’t feel “right” this year. This will be the first YouTube Rewind absence since the annual recaps were begun in 2012.
Black Friday still a thing. A recent survey showed that three-quarters of holiday shoppers surveyed say they intend to take part in at least one of the season’s blockbuster shopping events. Leading the pack is Black Friday with 55 percent of the 3,500 sample saying that the Friday after Thanksgiving would find them looking for bargains.
Weighting the Watchers
Disney Plus is bright spot for Mickey machine. As continuing challenges still plague the Walt Disney Company’s theme parks and studio entertainment divisions, the company announced that Disney Plus hit 73.7 million paying subscribers as of Oct. 3. That’s up a little more than 13 million since August.
Glitch costs advertisers. A pair of measurement errors led to more than 400,000 advertisers overpaying for campaigns on LinkedIn over the past two years. The company said the glitch caused videos to continue playing, even while off-screen on some devices, which led to the overreporting of video views and ad impressions. The company said 90% of the advertisers affected had overpaid by less than $25 and would receive credits for future ad campaigns.
Cord-Cutting Price Increasing. Growth leveling off? The rate of consumer cord-cutting slowed in Q3 for the first time since Q4 2018 and cable powerhouse, Charter, had its second consecutive quarterly gain in subscribers. One possible explanation for the slowdown in the migration to streamers could be the increasing costs of cord-cutting, exemplified by Netflix’s and Hulu’s recently announced increases.
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